Weibo (NASDAQ:WB) Shares Gap Up - Should You Buy?

Weibo Co. (NASDAQ:WB - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $10.89, but opened at $11.60. Weibo shares last traded at $10.80, with a volume of 1,345,459 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on WB. StockNews.com raised Weibo from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Benchmark restated a "hold" rating on shares of Weibo in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Weibo currently has an average rating of "Hold" and a consensus target price of $10.28.

Weibo Stock Down 2.4 %

The firm has a market capitalization of $2.63 billion, a PE ratio of 7.42 and a beta of 0.26. The stock has a 50-day simple moving average of $9.90 and a 200-day simple moving average of $9.12. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On Weibo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of Weibo by 155.2% in the fourth quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider's stock valued at $27,000 after purchasing an additional 1,642 shares in the last quarter. Shell Asset Management Co. bought a new position in Weibo in the 4th quarter worth about $54,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Weibo during the 4th quarter valued at about $70,000. PARUS FINANCE UK Ltd bought a new stake in shares of Weibo during the fourth quarter valued at about $99,000. Finally, Creative Planning purchased a new stake in shares of Weibo in the third quarter worth about $112,000. Institutional investors own 68.77% of the company's stock.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.